17 June 2026

CML Microsystems Plc

("CML", the "Company" or the "Group")

Full Year Results

Strong second half recovery and strategic progress position CML for renewed growth

CML Microsystems Plc, which develops mixed-signal, RF and microwave semiconductors for global communications markets, announces its Full Year Preliminary Results for the year ended 31 March 2026.

Financial Highlights

·    Revenue of £20.45m (FY25: £22.90m), with a significant improvement in trading performance during the second half.

·    Gross profit of £12.89m (FY25: £15.89m) equating to a gross margin of 63% (FY25: 69%), reflecting a higher contribution of NRE income in revenue mix.

·    Cash balances at period end increased to £12.80m (31 March 2025: £9.92m).

·    Net assets increased to £51.45m (FY25: £49.01m), including a £1.88m revaluation surplus on the remaining Oval Park land and buildings. In accordance with IAS 16, the uplift was recognised within other comprehensive income rather than the income statement and therefore did not impact reported profit before tax.

·    Recommended final dividend of 6.0p per share (FY25: 6.0p per share) giving a full year dividend of 11.0p (FY25: 11.0p).

Operational Highlights 

·    Landmark 12-year design and supply agreement valued at more than $30 million with a leading global manufacturer of industrial GNSS equipment, validating the Group as a systems-level partner.

·    Following 18 months of customer interaction we enter FY27 optimised for future success and focussed on four market verticals; Professional & Industrial Communications, Network Infrastructure, Industrial IoT and Aerospace & Defence.

·    Completed a multi-year transformation into a pure play communications semiconductor company enabling the Group to effectively focus on the market sectors that will drive future growth.

·    Continued investment in innovation with £5.50m invested in R&D and further expansion of the RF and microwave product portfolio.

Chris Gurry, Group Managing Director of CML Microsystems, commented: "FY26 delivered significant strategic and operational progress despite continued market headwinds. The second half saw a stronger financial performance, supported by improving customer inventory levels and growing order activity, while the signing of our long-term GNSS contract represents an important milestone for the business.

With our transformation complete, a strong balance sheet supporting multi-year growth, an expanding product portfolio and healthy level of opportunity in the pipeline, we enter FY27 expecting a return to revenue growth and the Board remains confident that the Group is well placed to deliver on its growth ambitions."

About CML Microsystems Plc

CML develops mixed-signal, RF and microwave semiconductors for global communications markets. The Group utilises a combination of outsourced manufacturing and in-house testing with trading operations in the UK, Asia and USA. CML targets sub-segments within Communication markets with strong growth profiles and high barriers to entry. It has secured a diverse, blue chip customer base, including some of the world's leading commercial and industrial product manufacturers.

Growth in its end markets is being driven by factors such as the appetite for data to be transmitted faster and more securely, the upgrading of telecoms infrastructure around the world and the growing prevalence of private commercial wireless networks for voice and/or data communications linked to the industrial internet of things (IIoT).

The Group is cash-generative, has no debt and is dividend paying.

Chairman's statement

This year the Group delivered meaningful commercial and operational progress despite continuing global macroeconomic pressures, heightened geopolitical uncertainty and the lingering effects of widespread semiconductor supply chain disruption.

Despite these headwinds, the Group's progress in the year showed real substance: revenue momentum improved late in the second half, we secured a landmark contract with a leading manufacturer of global navigation satellite system (GNSS) equipment and substantially completed our work on non‑operational property assets through the disposal of the excess land at the Company's headquarters.

The July 2025 signing of a twelve‑year design and supply agreement with a leading global manufacturer of industrial GNSS equipment was a standout commercial achievement. Worth in excess of $30m, the contract validates CML's role not just as a component supplier but as a systems‑level partner able to satisfy stringent high‑precision wireless communications requirements. The initial two-to-three-year design phase is well underway and will pave the way for substantial product sales, where CML's ability to meet stringent manufacturing requirements and provide long-term supply chain resilience are additional key attributes.

Issues reported at our interim results relating to proactive activities to secure supply of certain core products, as well as unplanned engineering effort to restore shipment availability of specific SµRF products, were successfully concluded. Availability of the affected products commenced in the second half of the year.

Having completed a multi-year transformation of the business into a pure play communications semiconductor company, coupled with 18 months of customer and market interaction with the enlarged product portfolio, a refining of our target market verticals and application areas was concluded. This will enable the Group to efficiently and effectively focus on the market sectors and subsectors that will drive our future growth.

The Board's objective to raise cash from its non-operational property interests has continued. The sale of the excess land at Oval Park was achieved in the  financial year, generating £7m and, more recently, we have signed a commercial property lease on the Meon House building in Fareham. The tenant has an option to buy. These one-off transactions have strengthened our balance sheet and profitability, aiding future growth and shareholder returns.

As expected, revenues were lower year-on-year at £20.45m (FY25: £22.90m) but pleasingly the second half of the year saw a significant improvement, both sequentially and on the comparable second half last year. This contributes to our belief that the multi-year customer inventory overhang is coming to an end. It should also be noted that the composition of revenue in the year included a higher than originally expected contribution from non-recurring engineering (NRE) income, driven by the design activity element of our significant new GNSS contract.

The overall product mix, combined with an increased amount of NRE income, delivered a gross profit margin of 63% (FY25: 69%), a decline of £3m in absolute terms. Operational costs were slightly elevated, leading to a loss from operations before exceptional items of £1.93m at the trading level. This operating loss was reduced to a loss before taxation of £0.07m (FY25: £0.77m loss) after including the sale of excess land at Oval Park and the impairment of development costs.

The remaining land and buildings at Oval Park were subsequently revalued to accurately reflect the asset value, leading to an uplift of £1.88m. At the time of the Group's trading update on 1 April 2026, we were expecting to report a statutory profit before tax of approximately £1.8m for FY26, based upon this gain, along with other exceptional items. The subsequent FY26 audit process, in accordance with the IAS 16 standard, has led to this gain being excluded from the Consolidated Income Statement; instead, it is shown as a revaluation surplus within the Statement of Total Comprehensive Income.

As communicated in previous years, the Board has maintained its dividend policy throughout this multi-year transitional period, signalling its confidence in the long-term potential of the business. The Group's strong balance sheet, with net assets increasing to £51.45m (FY25: £49.01m) and overall cash reserves advancing to £12.8m (FY25: £9.92m), provides the financial foundations to deliver this approach.

The Board has decided to recommend paying a final dividend of 6p (FY25: final dividend of 6p) taking the total dividend paid for the year ended 31 March 2026 to 11p (FY25: 11p).

The Board will continue to review the dividend policy considering the Group's financial performance and the prevailing macroeconomic environment with a desire to rapidly reach the stage where payments are covered by trading profitability and cash flow at the operating level. As we enter FY27 the Board has a clear capital allocation commitment that maintains shareholder returns whilst investing in the business for growth.

Subject to shareholder approval, the shares will go ex-dividend on 6 August 2026, and the dividend will be paid to shareholders on 21 August 2026 whose names appear on the register at close of business on 7 August 2026.

Our employees remain the cornerstone of everything we do. The Group's ability to navigate the challenges of recent years, execute a complex transformation programme and simultaneously deliver an expanded product range, reflects the talent, commitment and resilience of our teams across the UK, USA and Asia. On behalf of the Board, I extend my sincere thanks to each and every one of our colleagues for their continued dedication. Their efforts have been instrumental in positioning the business for the growth chapter ahead.

The Corporate Governance Report within the forthcoming Annual Report describes the Group's approach to governance and how it supports the delivery of our strategy. The Board is committed to operating to high standards across all aspects of governance, and the Audit and Remuneration Committees have continued to discharge their responsibilities effectively during the year.

I am struck by how much has been achieved over the past year despite difficult global conditions. Just over five years ago we concluded that the constitution of the business needed to change if we were to deliver meaningful and sustainable growth. A combination of corporate activity, whilst simultaneously investing in people and operations, means we can look forward with confidence at our materially larger market opportunity and product range.

Throughout this period, we have consistently provided shareholder returns via dividends, buybacks and a return of capital. With the business transformation completed we have transitioned to a growth phase, where we will begin to realise the benefits of those actions.

Our anticipated progress is based upon a continued winding down of the customer inventory overhang along with firmer demand across the key market verticals. Positive revenue momentum in the final months of FY26 was encouraging and has continued into the new year.

For FY27 the Board expects to see a return to revenue growth. Global uncertainties remain a risk, and we are mindful that reliable customer forecasting in this environment requires caution. However, the Group has entered the year backed by a strong team, an expanding product portfolio, a broader customer base and a very healthy level of opportunities in the pipeline.

In summary, the Board is confident that the Group is well placed to deliver on its growth ambitions across our target markets through an enlarged and increasingly differentiated product set.

Nigel Clark

Non-Executive Chairman

Operational and financial review

Overview

CML successfully navigated a challenging year, while simultaneously investing in operational areas and personnel that are key to our future growth plans. Having been initially cautious about the first half, our expectation was for a recovery in the second half amid optimism that the toughest challenges were behind us. I am pleased to report that the final quarter delivered a stronger financial performance, with the excess customer inventory levels that have been a feature of prior reporting periods showing good improvement. The year ended positively, with a progressive order backlog across the year adding to our confidence for the period ahead.

Markets and products

Maintaining healthy investment levels in new product development activities has been and will continue to be fundamental to our growth strategy. The product portfolio has expanded considerably over the last few years as a precursor to entering several new market areas where we believe we can obtain a sizeable market share through a standard product philosophy, complemented by periodic custom developments where both strategic and commercial objectives are met.

As mentioned at our interim results, a refining of the target application areas within our chosen markets was undertaken following 18 months of customer interaction with the enlarged product portfolio. The results of that process have been implemented, and we enter FY27 optimised for future success and focused on four market verticals: Professional & Industrial Communications (P&I), Network Infrastructure, Industrial IoT (IIoT) and Aerospace & Defence.

Group revenues were dominated by two of these four new sectors: P&I (54%) and IIoT (24%); however, commercial and engineering activities were heavily focused on expansion prospects across all sectors. This is evidenced by the pipeline of new opportunities being actively pursued, which includes programmes for UAVs/drones, radar, RFID, test and measurement, and 5G backhaul. These are all supplementary markets to CML's traditional core application areas and are expected to become meaningful growth contributors in the future.

Professional & Industrial Communications

Typical customers include mobile radio OEMs manufacturing end products for public‑safety agencies, commercial fleets for transportation and logistics, public utilities and maritime applications. The market size for RF/mixed-signal semiconductor content within the sector exceeds $1bn, reflecting an attractive and resilient niche with high barriers to entry within the broader RF and baseband semiconductor market.

Growth drivers include ongoing digital migration, LTE/5G push‑to‑talk convergence, ruggedised and reliable device demand and secure mission‑critical comms. We are fortunate to count most of the leading manufacturers as customers and expect to experience solid annual growth over the next several years.

The broadcast radio standard DRM (Digital Radio Mondiale) has further consolidated its position as the prevailing digital radio standard across the Asia-Pacific region. DRM is an exciting future opportunity for CML. The most significant development was in China, where the National Radio and Television Administration formally adopted the DRM standard for digital broadcasting in the medium and shortwave bands in mid-2025. Activity has now shifted from validation towards field trials and subsequent deployment.

CML's progress has continued and our DRM1000 module transitioned to first commercial launch, with initial production of the module in India. We recently unveiled a new multi-standard DRM and DAB+ receiver platform and continue to lead industry promotion through the DRM Consortium. The recent appointment of CML's Product Director as a Vice-Chair of the Consortium reflects the Company's sustained commitment to market development over the coming years.

Network Infrastructure

Network Infrastructure customers incorporate manufacturers of equipment such as macro/small cells, backhaul microwave links, fixed wireless access radio, test and measurement equipment and LEO/GEO satellite terminals.

The market is diverse and exceeds double-digit USD billions in size. Future growth drivers include 5G densification, private networks, higher‑capacity microwave/mmWave backhaul and Open RAN deployments. CML has a focused product portfolio along with the technical and financial strength to support multi-year customer qualification commitments.

Industrial IoT

Industrial IoT is a substantial, fast-growing ecosystem utilising a range of different RF technologies depending upon the needs of the specific end-application, such as the transmission range, environment and amount of data being transferred.

CML customers in this market produce wireless products for RFID, asset tracking, high-precision global navigation satellite systems (GNSS), smart cities, SCADA and industrial automation. The barriers to entry for some of these categories are extremely high, where security requirements are stringent and product lifecycles in excess of ten years are typical.

This multi-billion US Dollar market opportunity offers strong growth prospects due to Industry 4.0 adoption, large‑scale RFID/asset‑tracking rollouts and the increasing need for GNSS connectivity using accurate radio technology for land surveying, mapping, location-based services, precision farming, maritime and mining.

Aerospace & Defence

For the Aerospace & Defence market, CML supplies RF and mixed‑signal semiconductors to customers producing communications equipment used in avionics, radar, electronic warfare, secure communications and unmanned platforms.

Typical customers include defence primes, avionics OEMs, systems integrators and specialist contractors who require high-performance, long‑life components, traceable supply chains, rugged packaging and extended temperature tolerance.

Key demand drivers are the modernisation of radar and electronic warfare, growth in UAV and autonomous systems, along with a greater emphasis on secure, resilient communications, as well as the broader theme of increased defence spend.

Our multi-year investments and the resulting expansion of our product range are directly driving the growth opportunities we are seeing across our market verticals. Clearly, some initiatives are in the early stages of customer and market penetration and have yet to deliver substantial financial returns for the Group. Others, such as DRM, require the target market to become more established. Providing compelling semiconductor solutions for a wider range of application areas is fundamental to our strategy and essential for the business to transition towards a more diversified and growing revenue base.

In addition to the Company's "standard product" business model, during the year we announced the signing of a long-term design and supply contract with a leading manufacturer of industrial GNSS equipment. The contract is valued at over $30m, highlighting the value that customers place on both our technical capabilities but also our ability to operate as a systems-level partner.

The initial two-to-three-year design period will pave the way for substantial product sales, where CML's ability to meet stringent manufacturing requirements and provide long-term supply chain resilience are key attributes. Work formally commenced on the project during 2025 and a recently held key design review milestone indicated the project is on track.

Investments continued to be made towards further expansion of the product range along with the relevant ecosystem requirements to enable rapid adoption across a wider range of customers. Equally important was the successful conclusion of a multi-year engineering effort to maintain supply security for some of the Group's long-standing core products.

People and operations

Our employees are the foundation of our future success. During the year we made several key appointments, including VP Operations in Silicon Valley, Global VP Sales and Marketing based in the UK, and Senior VP Channel Strategy & Partnerships in the USA; the latter two being internal promotions. Across the Group's 161 employees, the average length of service is 14 years, and 44% have more than ten years' tenure. Continued investment in our people remains a key strategic priority.

As reported at our interim results, the delays in relocating to new premises in Fremont, California are behind us and local operations have aligned with Group global systems, resulting in time and cost efficiencies as the business grows.

Investments made to improve manufacturing capabilities locally were a key factor in achieving the restoration of sales for some important SµRF products previously impacted by geopolitical trade restrictions. The speed with which the situation was rectified is testament to the skills and dedication of the team involved.

Our sales and marketing teams are steadily increasing awareness of CML as a trusted solutions partner in markets where the brand is less familiar, to target customers who need a dependable partner to develop leading-edge products.

To support market expansion, the Company participated in numerous industry trade shows and conferences, including IMS2025, European Microwave Week, ARMMS Conference, Space-Comm Europe, SATShow Week, and regular international events tied to the DRM Consortium. To broaden our reach beyond direct sales efforts, we added channel partners across Europe, the Americas and Japan.

Together, these initiatives are essential to our success, expanding CML's visibility across a broader global customer base.

Summary and outlook

As stated at our interim results, the last few years have tested our resilience, but we have embraced this period as an opportunity to transform the Company, enhancing our business model, structure, "go-to-market" strategy and adapting to evolving market dynamics.

The challenges associated with excess customer inventory levels showed good progress through the second half and continue to improve. The broader environment does reflect the uncertainties associated with geopolitical tensions and the electronics supply chain generally; however, the final quarter of FY26 delivered a stronger financial performance and the progressive order book is providing greater visibility. Taken together, this reinforces our confidence levels as we move through the early months of FY27.

Operationally, the business has made excellent progress, executing a clear expansion strategy driven by an experienced, skilled and committed team. Our strong balance sheet supports multi-year growth, and we expect the year ahead to deliver a year of solid progress, both in terms of sales revenue and operating profitability.

Financial review

Revenue and gross profitability

Group revenue was £20.45m (FY25: £22.90m). The year-on-year decrease reflects the gradual resolution of a general customer over‑inventory position and the temporary inability to supply certain SµRF products until the final months of the year because of a raw material supplier re-qualification programme. We believe we are at the tail end of the inventory situation and expect FY27 to deliver a full year of contribution from products delayed by the re-qualification activity.

Geographically, 53% of sales by destination were to Asia (FY25: 47%), 25% into the Americas (FY25: 30%) and 19% into EMEA (FY25: 19%).

Gross profit for the year was £12.89m (FY25: £15.89m) equating to a gross margin of 63% (FY25: 69%). The margin drop resulted in part from a revenue mix that included a higher contribution of non-recurring engineering (NRE) income from design services activities, at £1.89m (FY25: £0.36m), where margins are lower than product sales and engineering costs are included in cost of sales.

Operating costs

Expenses associated with running the business were marginally higher at £15.28m (FY25: £15.14m) as we continued to balance having an efficient and effective cost base, with appropriate investment in our growth strategy. The figure includes additional exit costs associated with vacating the old premises in Fremont, California, plus general inflationary increases. Conversely, the figure benefits from the exclusion of those fixed engineering expenses that are attached to pure design services activities for specific customers and have been included in the cost of sales.

The Group benefits from Research and Development Expenditure Credit (RDEC), a taxable, above‑the‑line credit associated with qualifying engineering activities. It appears as other operating income in the income statement, is taxable and therefore the net cash benefit is the credit less the corporation tax on that credit. RDEC income received in FY26 totalled £0.71m and related to the current and prior full financial years (FY25: £Nil).

Land disposal, impairment and exceptional gain

In July 2025, an agreement was signed to dispose of surplus land at the Group's headquarters. The first cash amount of £4m was received in July 2025 with the final plot of land being sold on 27 March 2026, culminating in total proceeds of £7.0m across the year, delivering a profit of £5.88m.

Capitalised development costs were reviewed for impairment under IAS 36. After a second full year of ownership of MwT and a recent rationalisation of the Group's target market verticals, an impairment charge of £4.19m has been recognised.

Combined, these items result in a gain of £1.69m for the year which is recorded under other gains and losses within the income statement.

R&D

R&D investment levels were maintained to facilitate a continual flow of innovative new products that are expected to unlock additional growth in future years. The spend on research and development for the year was £5.50m (FY25: £5.50m) with £1.20m of this amount expensed (FY25: £1.30m) and the balance capitalised. Amortisation of development costs was £2.53m (FY25: £2.40m).

Profit

The reduction in product revenues year over year is the overriding factor in the Group delivering a loss from operations, excluding exceptional items, of £1.93m against an FY25 profit of £0.53m, again excluding exceptional items.

A reported pre-tax loss of £0.07m (FY25: £0.77m pre-tax loss) was posted after net finance income of £0.13m (FY25: £0.32m), a profit of £5.88m from the land sale and an impairment of £4.19m against capitalised development costs.

At the time of the Group's trading update on 1 April 2026, we anticipated reporting a statutory profit before tax of approximately £1.8m for FY26, based upon the gain from a revaluation of the remaining land and buildings at Oval Park being reflected in the income statement, along with other exceptional items. The subsequent FY26 audit process, in accordance with the IAS 16 standard, has led to the actual gain of £1.88m being shown as a revaluation surplus within the Statement of Total Comprehensive Income.

Taxation and EPS

A small income tax credit of £0.02m has been recorded against an FY25 credit of £0.75m. The pre-exceptional tax credit of £1.2m was negated by the resulting tax charge of £1.18m from the land sale of excess land.

Basic loss per share amounted to 0.33p (FY25: 0.11p).

Inventory and cash

Inventory levels reduced by £0.90m reflecting an improving market environment towards the end of the year along with the completion of an alternative sourcing strategy. At 31 March 2026, inventories were valued at £4.76m (FY25: £5.66m).

The Group's cash reserves at 31 March 2026 were £12.80m, including short-term cash deposits of £6.55m. This represents an increase of £2.88m over the prior year (31 March 2025: £9.92m) and follows the positive effects of the land sale (+£7m) combined with R&D cash spend of £5.50m, dividend payments of £1.79m and £0.65m capital expenditure.

The total net cash inflow from operating activities was £4.59m (FY25: £3.09m).

Pensions

The Group operates several pension schemes globally, mostly defined contribution in nature. In the UK, the Company historically operated a defined benefit scheme that has been closed to new members and future accruals for many years. A formal triennial actuarial valuation is underway with a valuation date of 31 March 2026, although the process takes some months to complete. As a point of reference, at 31 March 2025, the actuarial estimate indicated a surplus of £0.73m with the funding level at 105%.

When calculated using IAS 19 methodology, the funding position improved through the year with a deficit of £0.61m being recorded (FY25: £1.08m deficit). The beneficial change was largely due to changes in assumptions (a higher discount rate being used following a rise in corporate bond yields over the year) and a higher-than-expected investment return on the scheme assets.

All administrative expenses of running the scheme are currently met directly by the scheme along with pension protection fund levies.

Chris Gurry

Group Managing Director

Consolidated income statement

for the year ended 31 March 2026

All financial information presented relates to continuing activities.

Earnings per share from total operations attributable to the ordinary equity holders of the Company:

The following measure is considered an alternative performance measure, not a generally accepted accounting principle. This ratio is useful to ensure that the level of borrowings in the business can be supported by the cash flow in the business.

Consolidated statement of total comprehensive income

for the year ended 31 March 2026

Consolidated statement of financial position

as at 31 March 2026

Consolidated cash flow statement

for the year ended 31 March 2026

Cash flows presented exclude sales taxes.

Consolidated statement of changes in equity

for the year ended 31 March 2026

1 Segmental analysis

Reported segments and their results in accordance with IFRS 8, are based on internal management reporting information that is regularly reviewed by the chief operating decision maker (C. A. Gurry). The measurement policies the Group uses for segmental reporting under IFRS 8 are the same as those used in its financial statements.  

The Group is focused for management purposes on one operating segment, which is reported as the semiconductor segment, with similar economic characteristics, risks and returns, and the Directors therefore consider there to be one single segment, being semiconductor components for the communications industry.

Geographical information (by origin)

2 Revenue

The geographical classification of business turnover (by destination) is as follows:

3 Dividend - paid and proposed

During the year a final dividend of 6p per ordinary share was paid in respect of the year ended 31 March 2025.  An interim dividend of 5p per ordinary share was paid on 13 December 2025 to shareholders on the Register on 29 November 2025. 

It is proposed to pay a final dividend of 6p per ordinary share, taking the total dividend amount in respect of the year ended 31 March 2026 to 11p. It is proposed to pay the final dividend of 6p, if approved, on 21 August 2026 to shareholders registered on 7 August 2026 (2025: paid 15 August 2025 to shareholders registered on 1 August 2025).

4 Income tax expense

5 Earnings per ordinary share

The calculation of basic and diluted earnings per share pre-exceptional items is based on the profit attributable to ordinary shareholders, divided by the weighted average number of shares in issue during the year, as shown above.

5 Earnings per ordinary share continued

The calculation of basic and diluted earnings per share is based on the profit attributable to ordinary shareholders, divided by the weighted average number of shares in issue during the year, as shown above.

6 Adjusted EBITDA

Adjusted earnings before interest, tax, depreciation and amortisation (Adjusted EBITDA) is defined as profit from operations before all interest, tax, depreciation and amortisation charges, exceptional items and before share‑based payments. The following is a reconciliation of the Adjusted EBITDA for the years presented:

7 Cash, cash equivalents and fixed term deposits

8 Oher gains and losses

During the year the Group disposed of the excess land at Oval Park for a total consideration o £7,000,000 (plot 1 was sold in July 2025 for £4,000,000 and plot 2 was sold in March 2026 for £3,000,000). An impairment review of the carrying costs of the Group's development expenditure took place which resulted in the development costs being impaired in the year.

During the year ended 31 March 2025, the Group restructured its engineering resources which led to the goodwill and intangibles relating to the acquisition of PRFI Ltd in March 2020 being impaired to £Nil.

9 Principal risks and uncertainties

9 Principal risks and uncertainties continued

9 Principal risks and uncertainties continued

10 Significant accounting policies

The accounting policies used in preparation of the annual results announcement are the same accounting policies set out in the year ended 31 March 2025 financial statements.

11 Basis of preparation

These Unaudited Condensed Consolidated Financial Statements have been prepared in accordance with UK adopted International Accounting Standards and are in conformity with the requirements of the Companies Act 2006. They do not include all of the information required for full annual statements and should be read in conjunction with the 2026 Annual Report.

The comparative figures for the financial year 31 March 2025 have been extracted from the Group's statutory accounts for that financial year. The statutory accounts for the year ended 31 March 2025 have been filed with the registrar of Companies. The auditor reported on those accounts: their report was (i) unqualified, (ii) did not include references to any matters to which the auditor drew attention by way of emphasis without qualifying the reports and (iii) did not contain statements under section 498(2) or (3) of the Companies Act 2006.

The statutory accounts for the year ended 31 March 2026 are expected to be finalised on the basis of the financial information presented by the Directors in this preliminary announcement and signed following approval by the Board of Directors on 29 June 2026 and will be delivered to the Registrar of Companies following the Company's Annual General Meeting on 11 August 2026.

The financial information contained in this announcement does not constitute statutory accounts for the year ended 31 March 2026 or 2025 as defined by Section 434 of the Companies Act 2006.

A copy of this announcement can be viewed on the company website http://www.cmlmicroplc.com.

12 Approval

The Directors approved this preliminary results announcement on 17 June 2026.